Otter Media, a joint venture between AT&T and the Chernin Group, today announced it had completed its purchase of a majority stake in the popular YouTube network, Fullscreeen.
The network involves over 50,000 creators with 450 million subscribers, making it one of the largest collections of YouTube channels around. Together they generate around 4 billion monthly views.
Founder and CEO George Strompolos remains at the helm of the company, and the deal is expected to complete next month. The move follows Disney’s purchase of Maker Studios earlier this year, which kicked off current investor interest in acquiring YouTube networks. As the video giant continues to increase its role in content consumption (and advertising potential) over traditional media like TV, you can expect the trend to continue.